Microvision Secures New Contract To Develop Laser Projection Display for a Commercial Transportation Sector Customer

Microvision Secures New Contract To Develop Laser Projection Display for a Commercial Transportation Sector Customer

Monday April 23, 8:35 am ET

REDMOND, Wash.--(BUSINESS WIRE)--Microvision (NASDAQ:MVIS - News), the leader in light scanning technologies for display and imaging products, announced today that it has entered into a commercial product development contract with a world leading transportation sector systems integrator. Details of the contract were not disclosed for competitive reasons at the request of the customer.

Under the agreement, Microvision will work with this world leading system integrator to initially design an innovative projection-based display solution for an aerospace application based on Microvision's ultra miniature laser display projector platform.

"In 2006 we defined and implemented a common technology platform strategy which resulted in a flexible display engine, PicoP(TM), that can be leveraged into many high-value applications in the broad transportation market segment," stated Microvision President and CEO Alexander Tokman. "Our unique display engine offers many inherent advantages, such as improved safety which is the focus for this specific program. Increasingly, prospective customers are endorsing Microvision's display platform strategy and we are thrilled that it is resonating with our partners focused on commercial display applications."

About Microvision: www.microvision.com

Headquartered in Redmond, Wash., Microvision Inc. is the world leader in the development of high-resolution displays and imaging systems based on the Company's proprietary silicon micro-mirror technology. The Company's technology has applications in a broad range of consumer, medical, industrial, professional and consumer products.

Forward-Looking Statements Disclaimer

Certain statements contained in this release, including those relating to future product applications and benefits, are forward-looking statements that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those projected in the Company's forward-looking statements include the following: our ability to raise additional capital when needed; risks related to Lumera's business and the market for its equity, market acceptance of our technologies and products; our financial and technical resources relative to those of our competitors; our ability to keep up with rapid technological change; our dependence on the defense industry and a limited number of government development contracts; government regulation of our technologies; our ability to enforce our intellectual property rights and protect our proprietary technologies; the ability to obtain additional contract awards; the timing of commercial product launches and delays in product development; the ability to achieve key technical milestones in key products; dependence on third parties to develop, manufacture, sell and market our products; potential product liability claims and other risk factors identified from time to time in the Company's SEC reports, including the Company's Annual Report on Form 10-K filed with the SEC.